Sterilization Wrap Market
Number of pages: 100 | Report Format: PDF | Published date: September 29, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market size value in 2021 |
US$ 375. 2 million |
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Revenue forecast in 2030 |
US$ 489.5 million |
|
Growth Rate |
CAGR of 3.0% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
|
Segments covered |
Material Type, End User, and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
The global sterilization wraps market was pegged at US$ 375. 2 million in 2021 and is expected to witness a CAGR of 3.0% during the forecast period.
Market Fundamentals
Sterilization wraps are a type of packaging that allows sterilizing agents to penetrate and maintain sterility of a processed item after sterilization. The latest polymer wraps use high-quality SMS (spun bond - melt blown-spun bond) polypropylene, which combines strength and excellent filtering characteristics to create a barrier that shields medical devices from fluids and microorganisms. The sheet increases productivity since it provides the protection of double wrapping in a single sheet. The wrap allows sterilization to enclosed medical devices by providing effective barrier against contamination.
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Market Dynamics
The effective management of infections by utilizing these wraps is a major element for the growth of the global sterilization wrap market in terms of revenue. Other significant factors expected to drive revenue growth of global sterilization wrap market include the quickly expanding number of hospitals and clinics around the world, the need for sterilized products for patient use to prevent infections and post-surgery recovery, and rising healthcare facility spending.
Strict government rules on their production is a significant factor that may restrain the worldwide sterilization wraps market expansion.
Market Ecosystem
The global sterilization wraps market has been analyzed from three perspectives: material type, end user, and region.
Sterilization Wrap Market by Material Type
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The market for sterilization wraps according to material type is segmented into paper & paperboard and plastic & polymer. The plastic and polymer segment has the majority market share in terms of revenue. The growth is attributed to the fact that plastic and polymer-based sterilization wraps are economical and convenient to use. Furthermore, the paper & paperboard-based sterilization wraps are anticipated to contribute to market growth as paper-based wraps are commonly used in hospitals and clinics.
Sterilization Wrap Market by End User
Based on end user, the global sterilization wrap market is grouped into hospitals and clinics, and ambulatory surgery centers. The hospitals and clinics segment has dominated the global sterilization wrap market. Sterilization wraps are primarily used in hospitals and surgical centers; therefore, the growing number of hospitals and healthcare facilities is also contributing to the market growth for sterilization wraps. Additionally, this segment is expected to show high growth in the projected period as healthcare professionals across the globe are highly adopting sterilization wraps for protection of surgical instruments against contaminations. The demand of sterilization wraps in ambulatory surgery centers is also expected to increase as it is used for transport of patients and to carry medical equipments free form contaminations.
Sterilization Wrap Market by Region
Regionally, the global sterilization wrap market has been segmented into North America, Europe, Asia Pacific, and the rest of the. North America segment has dominated the global market. The high usage of these products in North America is primarily from the U.S. market. The widespread healthcare facilities in the area, increased awareness of infectious diseases, and rising concerns about contaminations are increasing usage of sterilization wraps in this region. During the projected period, the sterilization wrap market in Europe is anticipated to rank second in terms of market value. The growth is attributed to presence of advanced healthcare infrastructures and increased technological developments in products. The Asia Pacific market for sterilization wrap is estimated to show high growth in the forecast period. The factors contributing to the growth are increasing base of healthcare facilities, rising hospital density, and rising awareness.
Competitive Landscape
Some of the prominent players operating in the global sterilization wraps market are
The effective management of infections by utilizing these wraps is a major element for the growth of worldwide sterilization wrap market growth. Other significant factors expected to drive revenue growth of global sterilization wrap market includes the quickly expanding number of hospitals and clinics around the world, the need for sterilized products for patient use to prevent infections and post-surgery recovery, and rising healthcare facility spending.
Strict government rules on their production are a significant factor that may restrain the worldwide sterilization wrap market expansion.
The global sterilization wraps market was pegged at US$ 0.39 billion in 2021 and is expected to witness a CAGR of 3.0% during the forecast period from 2022 to 2030.
The global sterilization wraps market is expected to clock US$ 0.51 billion by 2030.
*Insights on financial performance is subject to availability of information in public domain